QCM Cayman Ltd. Cuts Position in ConocoPhillips (COP)
QCM Cayman Ltd. trimmed its position in ConocoPhillips (NYSE:COP) by 80.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,467 shares of the energy producer’s stock after selling 23,091 shares during the period. QCM Cayman Ltd.’s holdings in ConocoPhillips were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Sun Life Financial INC boosted its holdings in ConocoPhillips by 27,463.6% in the second quarter. Sun Life Financial INC now owns 9,096 shares of the energy producer’s stock valued at $400,000 after purchasing an additional 9,063 shares during the last quarter. Institute for Wealth Management LLC. purchased a new stake in ConocoPhillips in the second quarter valued at $614,000. Pine River Capital Management L.P. purchased a new stake in ConocoPhillips in the second quarter valued at $15,542,000. UBS Oconnor LLC purchased a new stake in ConocoPhillips in the second quarter valued at $4,494,000. Finally, Balyasny Asset Management LLC purchased a new stake in ConocoPhillips in the second quarter valued at $3,394,000. 69.83% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on COP shares. Scotiabank reaffirmed a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a report on Friday, September 8th. J P Morgan Chase & Co reissued an “overweight” rating on shares of ConocoPhillips in a research note on Saturday, September 16th. Jefferies Group LLC set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Royal Bank Of Canada increased their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Finally, Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the stock from $51.00 to $58.00 in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $55.37.
ConocoPhillips (COP) opened at $50.22 on Friday. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $54.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The firm has a market cap of $60,038.82, a PE ratio of 2,511.00, a P/E/G ratio of 12.34 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the firm earned ($0.66) EPS. analysts forecast that ConocoPhillips will post 0.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 annualized dividend and a dividend yield of 2.11%. ConocoPhillips’s dividend payout ratio (DPR) is presently -57.30%.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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